Ponzi Scheme

A judge Wednesday sentenced alarm industry broker Timothy McGinn to 15 years in prison and his partner, David Smith, to 10 years for their involvement in a Ponzi-type scheme that defrauded millions of…

A judge Wednesday sentenced alarm industry broker Timothy McGinn to 15 years in prison and his partner, David Smith, to 10 years for their involvement in a Ponzi-type scheme that defrauded millions of dollars from investors’ accounts.
August 06, 2013

A federal grand jury found alarm industry investors Timothy McGinn and David Smith guilty of swindling millions of dollars from investors’ accounts through a Ponzi-type scheme on Wednesday.
February 05, 2013

Alarm industry investors Timothy McGinn and David Smith have been charged with fraud in a wide-ranging federal indictment that alleges they swindled millions of dollars from investors’ accounts and used the money to support their lavish lifestyles.
By Rodney Bosch · January 31, 2012

Financiers Timothy McGinn and David Smith, who had their business and personal assets frozen in April after the Securities and Exchange Commission (SEC) charged them with running a ...
October 27, 2010